HORACE MANN EDUCATORS CORP DE
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
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Consolidated Financial Highlights
| ($ in millions) | Three Months EndedJune 30, | 2024-2023 | Six Months EndedJune 30, | 2024-2023 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 · % Change · 2024 · 2023 · % Change | ||||||||||
| Total revenues | $388.1 | $356.4 | 8.9% | $774.1 | $710.3 | 9.0% | ||||
| Net income (loss) | 3.8 | (12.8) | 129.7% | 30.3 | (6.2) | 588.7% | ||||
| Net Investment gains (losses), after tax | (4.6) | (13.7) | 66.4% | (2.9) | (16.8) | 82.7% | ||||
| Per diluted share: | ||||||||||
| Net income (loss) | 0.09 | (0.31) | 129.0% | 0.73 | (0.15) | 586.7% | ||||
| Net investment gains (losses), after tax | (0.11) | (0.34) | 67.6% | (0.07) | (0.41) | 82.9% | ||||
| Book value per share | $29.60 | $26.96 | 9.8% | |||||||
| Net income return on equity - last twelve months | 7.1% | (0.2)% | 7.3 | pts | 7.1% | (0.2%) | 7.3 | pts | ||
| Net income return on equity - annualized | 1.3% | (4.6)% | 5.9 | pts | 5.1% | (1.1%) | 6.2 | pts | ||
For the three months ended June 30, 2024, net income increased $16.6 million primarily due to lower net investment losses in Corporate & Other and improved Property & Casualty segment results reflecting the effect of rate and non-rate underwriting actions as well as the impact of favorable prior years' reserve development in Auto.
For the six months ended June 30, 2024, net income increased $36.5 million primarily due to improved Property & Casualty segment results reflecting the effect of rate and non-rate actions as well as the impact of lower catastrophe weather losses compared to prior year, favorable prior years' reserve development in Auto, and lower net investment losses in Corporate & Other.
| Horace Mann Educators Corporation | 36 | Second Quarter 2024 Form 10-Q |
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